The global marine big data market is observing noticeable growth, thanks to the increasing amount of data and information collected by ships, aerial remote sensing, buoys, stations, and satellites. Of late, the data generated as well as collected by various devices is mounting at a remarkable rate across the world, which is boosting this market substantially. Over the period from 2017 to 2025, the global market is anticipated to rise at a CAGR of 21.50% and reach a value of US$3.24 bn by 2025 end.

This blog post tries to answer some of the important questions regarding the global marine big data market:

Which is the most prominent trend in the global marine big data market?

The high dimensional and periodical acquisition of data by a number of marine observation projects across the world, leading to massive volume of marine big data, is the most important trend that is influencing this market substantially. Various economies across the world have introduced a number of observation projects, such as NEPTUNE, Argo, and GOOS, and numerous marine observation satellites.

Since, several observing techniques and multiple marine observation systems are employed into the service, the volume of the data increases considerably, making the data format diversified, and, eventually, forms marine big data. However, only that marine data is of importance, which contains specific spatial and temporal information. The efficiency of marine big data solutions in separating this information is the main factor that is propelling this market, globally.

On the basis of the regional presence, the worldwide marine big data market is spread across North America, the Middle East and Africa, Asia Pacific, Europe, and South America. The Asia Pacific market for marine big data is projected to establish itself as the market leader in the years to come, thanks to a significantly high cumulative average growth rate between 2017 and 2025. The increasing number of large shipping corporations in Japan, Singapore, South Korea, and China are projected to stimulate the Asia Pacific market for big marine data in the years to come.

Renewable energy, marine protected area, fishery, oil and gas, whale watching, dredging, offshore construction, marine traffic, and harbor have surfaced as the prime application areas for marine big data solution. Owing to strong price competition, the oil and gas sector are providing abundant opportunity for marine big data solutions for application and are expected to continue to do so in the years to come.

How is the competitive landscape of the global marine big data market looks like?

The global market for marine big data is demonstrating a highly competitive and fragmented business landscape, thanks to the large pool of companies functional in this market. The prominent participants are focusing on offering customized as well as cost competitive solutions to customers in a bid to gain an edge over their rivals. Apart from this, they are also engaging in strategic partnerships frequently to strengthen their presence in various geographies.